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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Office Spaces
12918 Park S Ave, Tacoma, WA 98444-1951
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0592058
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1971
Construction
WOOD FRAME
Total area
4,028 SF
Lot
0.52 ac (22,500 SF)
Zoning code
RR
APN
2695001131
UPID
US90-0592058
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Parkland Light & Water Co Electric Utility Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$855k
Comparable Approach
Comparable
$614k
Blend (final)
Blend
$765k
Owner & transaction history
Parkland Light And Water Company · 2 yrs held
Parkland Light And Water Company
since 2024
1 recorded transaction
Zoning & alternative use
RR · Tacoma, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Tacoma submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tacoma submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$925,000
6.5%
$855,000
7%
$795,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,240,000
Current use
RETAIL STORES
$1,215,000
Change: -2% · Conversion: Easy
WAREHOUSE, STORAGE
$1,205,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$765k
Range $689k – $842k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$190 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$12,579
Tax year 2024
Assessed value
$886,900
Assessed 2024
Previous assessed
$886,900
+0.0% YoY
Effective rate
1.42%
On assessed value
Assessed land
$110,400
Assessed improvement
$776,500
Land market value
$110,400
Improvement market value
$776,500
Total market value
$886,900
Applied tax rate
515.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1971
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Total area
4,028 SF
Lot
0.52 ac (22,500 SF)
Zoning code
RR
APN
2695001131
UPID
US90-0592058
Jurisdiction
PIERCE
Metro division
TACOMA, WA METROPOLITAN DIVISION
Zoning & alternative use
RR · Tacoma, WA
Zoning RR · permitted uses
RR · Tacoma, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tacoma. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1971
Construction
WOOD FRAME
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
0.52 ac
Current owner
From public records · entity-resolved
Parkland Light And Water Company
Entity
Mailing address
PO BOX 44426, TACOMA, WA 98448-0426
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 29, 2024
—
Parkland Light And Water Company
—
Deed
related
$5,000,000 · National Rural Utilities Cooperative Fin
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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